636 Shares in Eaton Co. plc (NYSE:ETN) Purchased by Cable Hill Partners LLC

Cable Hill Partners LLC bought a new stake in Eaton Co. plc (NYSE:ETN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 636 shares of the industrial products company’s stock, valued at approximately $211,000.

Several other large investors have also bought and sold shares of the business. Legal & General Group Plc grew its stake in shares of Eaton by 0.6% during the second quarter. Legal & General Group Plc now owns 3,206,251 shares of the industrial products company’s stock worth $1,005,317,000 after purchasing an additional 18,077 shares during the period. Capital World Investors boosted its stake in Eaton by 323.8% during the 1st quarter. Capital World Investors now owns 3,192,576 shares of the industrial products company’s stock worth $998,255,000 after acquiring an additional 2,439,270 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Eaton by 2.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,422,189 shares of the industrial products company’s stock valued at $471,370,000 after purchasing an additional 40,078 shares during the period. Janus Henderson Group PLC raised its holdings in Eaton by 15.5% in the first quarter. Janus Henderson Group PLC now owns 1,318,025 shares of the industrial products company’s stock worth $412,108,000 after purchasing an additional 176,571 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Eaton by 27,075.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,073,976 shares of the industrial products company’s stock valued at $355,959,000 after buying an additional 1,070,024 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ETN has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Eaton from $315.00 to $342.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. UBS Group began coverage on Eaton in a research note on Wednesday. They issued a “buy” rating and a $431.00 price target for the company. Barclays decreased their target price on Eaton from $327.00 to $320.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Wolfe Research upgraded Eaton from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Finally, Citigroup initiated coverage on Eaton in a report on Monday, September 16th. They set a “buy” rating and a $348.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $357.83.

Eaton Trading Down 2.1 %

NYSE ETN opened at $361.85 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $332.81 and a two-hundred day simple moving average of $320.84. Eaton Co. plc has a 12-month low of $224.52 and a 12-month high of $373.49. The stock has a market cap of $143.00 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.96 and a beta of 1.01.

Eaton (NYSE:ETN) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.04. Eaton had a net margin of 15.32% and a return on equity of 21.97%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period last year, the firm posted $2.47 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts forecast that Eaton Co. plc will post 10.79 earnings per share for the current year.

Eaton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 4th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, November 4th. Eaton’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity

In related news, insider Craig Arnold sold 61,569 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $360.97, for a total value of $22,224,561.93. Following the transaction, the insider now owns 506,360 shares in the company, valued at approximately $182,780,769.20. This trade represents a 10.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karenann K. Terrell acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $298.97 per share, for a total transaction of $149,485.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately $149,485. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 68,705 shares of company stock worth $24,516,346. Corporate insiders own 0.53% of the company’s stock.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.